Everyone wishes for greater gender diversity, whether it is a startup entrepreneur, an investor, a huge company’s recruiting manager, or even a political figure. In principle, everyone believes that equal representation of men and women in the workplace has a positive impact on the entire organization. Having different views and approaches from different life experiences, especially from women team members can result in creativity and innovation helping organizations tap into new opportunities.
According to a survey by Bain and company, women have the dynamic ability to adapt to every situation and have a higher emotional quotient indicates another survey done by Google and AWE foundation. Interestingly, in 2021, India saw the highest ever startups turning unicorns, with 10% of the startups being led by women co-founders which are highest to date. The number indicates that the last few years have seen women becoming business leaders and founding members of the companies.
Over the period, women leaders have registered their presence across sectors and are slowly moving away from conventional sectors like food processing, handicrafts, and textiles to real estate, ITES, BFSI, Pharma, hospitality, tourism, etc. Some of the primary reasons why women entrepreneurs will pilot the co-working domain in 2022 have been listed below:
- Optimal use of resources:
Being superb multitaskers, women leaders are always careful about how and where to use their resources. Their natural ability to provide care and comfort enables them to be an apt service provider in the co-working spaces as they are hospitable by nature and understand the basic requirements of people to sustain any business and execute day-to-day operations.
- Promote startups led by other female founders
Women-led c-working spaces are empowering and inspiring women as well as catering to their unique needs and desires. They not only encourage them to drive their own business but also help them address their day-to-day challenges such as offering children-friendly office spaces and better hygiene at their workplaces.
- More empathy and compassion
Pandemic forced people to value traditional qualities which are usually associated with women including empathy and compassion. According to a survey done by McKinsey & Company and LeanIn.Org’s Women in the Workplace 2021, women leaders consistently ensured manageable workloads for their teams, provided emotional support, and checked in on overall well-being more than men, and 87 percent of companies called this labor critical. It’s because of these qualities that today women, especially in the co-working spaces, are being considered great business leaders.
- Higher potential return and create more employment opportunities for female candidates
A report by Boston Consulting Group indicates that start-ups founded or co-founded by women generate 10% more cumulative revenue over five years. Moreover, it has been found that women-led businesses employ 3x more women than men, have a more inclusive work culture, and are estimated to grow 90% in the next five years.
Women are capable of visualizing opportunities better and tend to crack better deals to corporates and startups by offerings better services at an affordable rate across sectors. Many industry reports indicate that women-led businesses have better returns and are more likely to take risks in their firms.
There is no doubt that women have strong leadership qualities. Their ability to express happy and calm emotions helps them perceive as better leaders whereas their characteristics of being nurturing, relationship-oriented, and tending to emotional needs are being viewed as an asset.
Views expressed above are the author’s own.
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